Tag Archives: chemicals

Eastman Chemical plans $1.6B East Tennessee investment

Eastman.2.JPGSpecialty chemicals maker Eastman Chemical Co. on Wednesday signaled a long-term commitment to East Tennessee with announcement of $1.6 billion plan to modernize its Kingsport, Tenn. facility

The investment will be made over the next seven years and create 300 new jobs, company and state officials said in a news release.

The so-called Project Inspire initiative will include investment in  “new growth opportunities, safety and environmental projects, increased warehouse capacity, building renovations and expansion of its corporate campus,” according to a news release.

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Eastman Chemical expected to report higher profit

Eastman Chemical is expected to report increased profit when it files its third quarter earnings report on Thursday.

Analysts are looking for a profit of $1.42 per share, which would be a 19 percent increase from $1.19 per share in the 2011 third quarter.

Eastman shares were down about 30 cents to $55.78 in early afternoon trading. The Kingsport, Tenn, company is a global producer of chemicals, plastics, and fibers.

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Haslam video touts state for CNBC Twitter Battle

CNBC on Tuesday will reveal the results of its sixth annual look at “America’s Top States for Business.”0115inauguration27_asb.jpg

New this year is a Twitter Battle — featuring short videos from the states’ governors. All 50 guvs were invited to submit videos detailing what makes their state the best for business.

In less than two minutes Gov. Bill Haslam makes the case for Tennessee. He mentions, among other things,  the state’s growing automobile manufacturing sector and a wide variety of consumer products made in Tennessee  — M&Ms, solar panels, chemicals, Jack Daniels and more.

Haslam makes sure to note that Tennessee has “one of the lowest state tax burdens in the country.”

Click here for Haslam’s video

All of the videos are on CNBC.com. Viewers can vote for their favorite via state-specific hastags — as in #TopStatesTN for Tennessee.